System and method for the utilization of pricing models in the aggregation, analysis, presentation and monetization of pricing data for vehicles and other commodities
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a technology for pricing data and vehicles, applied in the field of commodity pricing, can solve the problems of data scarcity and fewer historical transactions, and achieve the effect of increasing the accuracy of determined pricing data
Active Publication Date: 2017-09-19
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[0007]Using the historical transactions associated with a user-specified vehicle configuration, desired pricing information may be obtained. In many cases, however, there may be fewer historical transactions than is desired to generate reliable or accurate predictions for a specified vehicle. Such data scarcity may occur in the cases of a vehicle model which is relatively new to the market or is an exotic of which few models are sold. To increase the accuracy of determined pricing data, it may be useful to apply different or additional price ratio models that leverage incremental data.
Problems solved by technology
In many cases, however, there may be fewer historical transactions than is desired to generate reliable or accurate predictions for a specified vehicle.
Such data scarcity may occur in the cases of a vehicle model which is relatively new to the market or is an exotic of which few models are sold.
Method used
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[0030]The invention and the various features and advantageous details thereof are explained more fully with reference to the nonlimiting embodiments that are illustrated in the accompanying drawings and detailed in the following description. Descriptions of well known starting materials, processing techniques, components and equipment are omitted so as not to unnecessarily obscure the invention in detail. It should be understood, however, that the detailed description and the specific examples, while indicating preferred embodiments of the invention, are given by way of illustration only not by way of limitation. Various substitutions, modifications, additions and / or rearrangements within the spirit and / or scope of the underlying inventive concept will become apparent to those skilled in the art from this disclosure. Embodiments discussed herein can be implemented in suitable computer-executable instructions that may reside on a computer readable medium (e.g., a HD), hardware circui...
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Abstract
Embodiments of systems and methods for the aggregation, analysis, display and monetization of pricing data for commodities in general, and which may be particularly useful applied to vehicles are disclosed. In certain embodiments, one or more models may be applied over a set of historical transaction data associated with a vehicle configuration to determine pricing data. Some models may leverage incremental data in various conditions, including cases where fewer than a desired number of historical transactions are present in the bin of a specified vehicle, where fewer than, equal to, or more than a certain number of list prices for the specified vehicle available, and where no historical transaction data for new models is available.
Description
CROSS REFERENCE TO RELATED APPLICATIONS[0001]This application is a continuation of U.S. patent application Ser. No. 12 / 896,145, filed Oct. 1, 2010, now U.S. Pat. No. 8,612,314, entitled “SYSTEM AND METHOD FOR THE UTILIZATION OF PRICING MODELS IN THE AGGREGATION, ANALYSIS, PRESENTATION AND MONETIZATION OF PRICING DATA FOR VEHICLES AND OTHER COMMODITIES,” which is a continuation-in-part of U.S. patent application Ser. No. 12 / 556,109, filed Sep. 9, 2009, now U.S. Pat. No. 9,111,308, entitled “SYSTEM AND METHOD FOR CALCULATING AND DISPLAYING PRICE DISTRIBUTIONS BASED ON ANALYSIS OF TRANSACTIONS,” which claims a benefit of priority from U.S. Provisional Applications No. 61 / 095,550, filed Sep. 9, 2008, entitled “SYSTEM AND METHOD FOR AGGREGATION, ANALYSIS, AND MONETIZATION OF PRICING DISTRIBUTION DATA FOR VEHICLES AND OTHER COMMODITIES” and No. 61 / 095,376, filed Sep. 9, 2008, entitled “SYSTEM AND METHOD FOR CALCULATING AND DISPLAYING COMPLEX PRODUCT PRICE DISTRIBUTIONS BASED ON AGGREGATIO...
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Application Information
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Patent Type & Authority Patents(United States)
IPC IPC(8): G06Q30/00G06F17/30G06Q30/02
CPCG06Q30/0278G06Q30/02
Inventor SWINSON, MICHAELO'DRISCOLL, LINPAINTER, SCOTT
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